Under normal market conditions, the funds adviser intends to invest in equity securities and derivatives thereof of companies that are involved in a significant corporate event, such as a merger or acquisition. Vivaldi Merger is traded on NASDAQ Exchange in the United States. Maximum drawdown of 0.19% indicates contained downside risk. With a beta of 0.02, VIVALDI MERGER shows lower sensitivity to broader market movements. It is managed by First Trust.
Vivaldi Merger Arbitrage (VARAX) currently is priced at $10.46 as of May 10, 2026, representing 0.1% up on the day after opening at $10.45. VIVALDI MERGER currently exhibits 15% estimated likelihood of significant NAV decline over the forecast period. Over the prior 90 trading days, VIVALDI MERGER has demonstrated strong risk-adjusted performance, in line with its constructive performance profile. The performance scores are measured across the period from February 9, 2026 to May 10, 2026. Learn more.
Vivaldi Merger Arbitrage [VARAX] is traded in USA. The fund is listed under the Event Driven category and is part of the First Trust family. This fund at this time has accumulated $1.58 billion in net assets with no minimum investment requirements. Vivaldi Merger Arbitrage is currently producing a year-to-date (YTD) return of 1.26%, while the total return for the last 3 years is 4.68%. VIVALDI MERGER is an operator in the event driven segment where revenue is driven by core operating activity and end-market demand.
Instrument Allocation
Mutual Fund Notable Updates
Legal Name
VIVALDI MERGER ARBITRAGE FUND CLASS A SHARES
Fund Concentration
Event Driven, First Trust, Large, Event Driven, (View all Sectors)
VIVALDI MERGER ARBITRAGE FUND CLASS A SHARES NAV Analysis
Aligned With Model
Today
10.46
This estimate for Vivaldi Merger Arbitrage is driven by the aggregate performance of its underlying assets across a 3 months time horizon. Pricing gaps often arise from short-term dislocations between fund value and underlying asset movements.
Monitoring VIVALDI MERGER's daily metrics gives shareholders faster feedback on whether the fund's holdings are trending or reversing. Rate of change and momentum readings help identify when buying or selling pressure across the fund's holdings is accelerating.
NAV projections for Vivaldi Merger Arbitrage within Event Driven rely on smoothing, regression, and moving-average techniques applied to historical prices. With a one-year return of 5.0%, these models describe observed NAV patterns. Current fund positioning must match historical conditions.
The fund overview for VIVALDI MERGER summarizes mandate, holdings profile, and risk characteristics. The fund has exposure to Mutual Fund Funds. The current allocation is approximately 92.0% equities and 8.0% cash. It is classified under Event Driven within the First Trust family.
Methodology
Unless otherwise specified, data for Vivaldi Merger Arbitrage is derived from fund disclosures (prospectus language, holdings reports, and periodic statements where available). Asset-level metrics are computed daily by Macroaxis LLC and refreshed regularly based on instrument type. Vivaldi Merger Arbitrage market data and reported NAV may reflect delayed updates. Data may be delayed depending on reporting sources and market conventions. All analytics presented are generated using Macroaxis quantitative models that incorporate financial statement analysis, market data, and risk metrics to ensure consistency and comparability. Assumptions: Datasets used in this report incorporate public fund disclosures, holdings reports, and market data feeds and official institutional disclosures, including U.S. Securities and Exchange Commission (SEC) via EDGAR. Information may be standardized across formats and may reflect delayed updates. All analytics are generated using standardized, rules-based models designed to promote consistency and comparability across instruments. Model assumptions, reference parameters, and selected computational inputs are available in the Model Inputs section. If you have questions about our data sources or methodology, please contact Macroaxis Support.
Research Sources
Vivaldi Merger Arbitrage may have reference inputs that incorporate holdings disclosures, category classification, and NAV-derived statistics where available. Updates may occur throughout the day.
Editorial review and methodology oversight provided by: Ellen Johnson, Member of Macroaxis Editorial Board